SBA Budget Dropped from $2.23 Billion in FY 2006 to $571.8 Million in FY 2007, According to Businessweek.com

As many of you may have seen, on Friday, May 23, Amy S. Choi with Businessweek.com reported,

"The budget for the SBA dropped to $571.8 million in fiscal 2007, from $2.23 billion in fiscal 2006, including all supplemental funding and congressional earmarks, reported the SBA."

Excluding all supplemental funding and congressional earmarks the SBA's budget has been cut more than any other federal agency since the Bush Administration took office. In fact according to Fred Hochberg at Huffingtonpost.com, "Under the Bush Administration, the SBA has sustained the largest budget cut - 40 percent - of any federal agency." Hochberg notes that Congressional Democrats have been able to restore 15% of the cut, reducing the total budget cut to 25%. However, he also notes that 25% still represents the largest cut of any federal agency.


Sources:

www.businessweek.com


http://www.huffingtonpost.com/fred-hochberg/small-businesses-create-j_b_101601.html